知名平台人去楼空，涉案金额或超亿元，CEO被带走

Core Viewpoint - The article highlights the issues faced by the Baibaokun platform, particularly regarding its failure to fulfill promised rebates and refunds, leading to multiple consumer complaints and potential legal troubles for the company [1][2][11]. Group 1: Consumer Complaints - A consumer reported on a complaint platform that they purchased 20 home care rights from Baibaokun for a total of 8,600 yuan, expecting to receive 100 JD gift cards worth 100 yuan each by September 18, 2025, but the company failed to deliver by the promised date [1][11]. - As of November 18, 2025, over 40 complaints related to Baibaokun have been recorded, with amounts ranging from thousands to tens of thousands of yuan [2]. Group 2: Company Operations and Legal Issues - Baibaokun's parent company, Baibao (Shanghai) Technology Co., Ltd., has reportedly moved from its registered office and its contact number is no longer in service. The CEO, Li Xuefeng, has been taken into police custody for investigation, with the involved amount potentially exceeding 100 million yuan [6]. - The company's business model, which initially aimed to connect consumers with health products and services, has shifted towards a rebate-driven model that has led to its current operational failures [17][21]. Group 3: Business Model and Marketing Strategy - Baibaokun's reliance on a "subsidy for traffic" customer acquisition strategy has been identified as a key factor in its operational issues, moving away from its original insurance sales commission model [17][21]. - The platform's promotional strategy included offering consumers the chance to purchase rights products with the promise of receiving equal or greater value in gift cards, creating a "no-risk" perception [11][20]. Group 4: Company Background and Funding - Baibaokun was established in October 2020, backed by a team with dual expertise in insurance and technology, and has undergone several rounds of funding, including angel rounds and a Pre-A round [23][28]. - The company was initially positioned as a data-driven algorithmic insurance platform, aiming to leverage technology to meet health needs, but has faced challenges in aligning its operational practices with its stated goals [23][28].